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news.Valeant Pharmaceuticals has signed an agreement to sell its manufacturing facilities in Humacao, Puerto Rico and Basel, Switzerland to Legacy Pharmaceuticals International.
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Terms of the transaction were not disclosed. Additionally, the sale includes the divestiture of the California-based company’s product Reptilase.
Timothy Tyson, Valeant’s president and CEO, said: “The sale of the two manufacturing sites in Basel and Humacao represents the final step in our restructuring initiative, most of which was completed last year. We continue to make excellent progress toward the achievement of our metric goals.”